Kovitz Investment Group Partners LLC trimmed its position in TechnipFMC (NYSE:FTI) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,476 shares of the oil and gas company’s stock after selling 28,489 shares during the period. Kovitz Investment Group Partners LLC’s holdings in TechnipFMC were worth $6,841,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Public Employees Retirement Association of Colorado increased its position in TechnipFMC by 2.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 54,805 shares of the oil and gas company’s stock valued at $1,716,000 after acquiring an additional 1,567 shares during the last quarter. Great West Life Assurance Co. Can increased its position in TechnipFMC by 70.0% in the third quarter. Great West Life Assurance Co. Can now owns 4,329 shares of the oil and gas company’s stock worth $121,000 after buying an additional 1,783 shares in the last quarter. Arizona State Retirement System increased its position in TechnipFMC by 2.0% in the fourth quarter. Arizona State Retirement System now owns 111,086 shares of the oil and gas company’s stock worth $3,478,000 after buying an additional 2,186 shares in the last quarter. Norinchukin Bank The increased its position in TechnipFMC by 7.2% in the fourth quarter. Norinchukin Bank The now owns 35,056 shares of the oil and gas company’s stock worth $1,098,000 after buying an additional 2,366 shares in the last quarter. Finally, CoreCommodity Management LLC grew its position in shares of TechnipFMC by 5.9% during the fourth quarter. CoreCommodity Management LLC now owns 43,135 shares of the oil and gas company’s stock worth $1,351,000 after purchasing an additional 2,385 shares in the last quarter. 66.66% of the stock is currently owned by institutional investors.
In related news, EVP Dianne B. Ralston sold 16,650 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $29.99, for a total value of $499,333.50. Following the completion of the sale, the executive vice president now owns 105,105 shares in the company, valued at $3,152,098.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard G. Alabaster sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $30.01, for a total transaction of $360,120.00. Following the completion of the sale, the insider now owns 54,028 shares of the company’s stock, valued at approximately $1,621,380.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,150 shares of company stock worth $1,429,809. Insiders own 0.86% of the company’s stock.
FTI stock opened at $28.85 on Friday. TechnipFMC has a 1 year low of $24.53 and a 1 year high of $35.00. The company has a market capitalization of $13,923.11, a PE ratio of 22.36, a P/E/G ratio of 7.67 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.
TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.24). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.85 billion. TechnipFMC had a return on equity of 6.05% and a net margin of 2.14%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. equities research analysts predict that TechnipFMC will post 1.3 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 4th. Stockholders of record on Tuesday, March 20th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, March 19th. TechnipFMC’s payout ratio is currently 40.31%.
Several analysts recently issued reports on the company. Societe Generale cut TechnipFMC from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. ValuEngine lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays reaffirmed a “hold” rating and issued a $32.00 price objective on shares of TechnipFMC in a research note on Tuesday, February 27th. Royal Bank of Canada set a $36.00 price target on TechnipFMC and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Susquehanna Bancshares set a $38.00 price target on TechnipFMC and gave the stock a “buy” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. TechnipFMC has a consensus rating of “Hold” and an average target price of $32.64.
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TechnipFMC Company Profile
TechnipFMC plc provides technologies, production systems, services, and solutions for the oil and gas industry worldwide. It operates in three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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